T2 Names David Sparks as CEO, Mike Simmons transitions to Chairman of the Board

INDIANAPOLIS, Oct. 1, 2013 (GLOBE NEWSWIRE) -- T2 Systems, an industry-leading provider of unified parking technology to nearly 400 organizations across the United States and Canada, today named David Sparks as CEO. Sparks will assume the post October 7, 2013 when current CEO and co-founder, Mike Simmons, transitions to his new role of Chairman.  

"Dave's experience in large-scale infrastructure and transportation projects, his entrepreneurial spirit and focus on growth are what T2 needs at this stage in its lifecycle. He is an outstanding business leader who brings a wealth of experience and keen understanding of the challenges and opportunities in the parking and transportation industry. I am delighted to have him join the company," said Simmons.

Sparks noted, "Understanding customer needs and delivering the right solution has always been important to me, and T2's customer-focused culture is one of the important factors that attracted me to this opportunity. I look forward to meeting our customers at T2's User Group Conference in November."

Sparks is a Co-Founder of TransCore and was previously its Executive Vice President. Since 2009, Sparks has served on the Board of Directors of the Intelligent Transportation Society of America (ITS America), and as a member of its Executive Committee and Chair of the Strategic Planning Committee.  He graduated from Texas A &M University where he received both his BBA and MBA.

He has a proven track record leading complex operations in the US and abroad and has noted industry expertise in transportation systems.  "Parking has an important role to play in solving the bigger multi-modal mobility needs in today's society, and it's important that we as a systems provider understand the issues on both the parking and transportation side. Dave increases T2's transportation IQ exponentially," said Simmons.

Sparks will continue to execute T2's strategy of focusing on bringing value to T2 customers, delivering outstanding service and healthy growth.

Additionally, Sparks serves as a Board Member of the Wyoming Infrastructure Authority, a quasi-governmental instrumentality formed to expand the state's electric transmission infrastructure.  He also co-founded The Sparks Foundation, a private operating foundation providing facilities and student scholastic and wellness support for economically disadvantaged primary schools in Santiago Atitlán Guatemala.

Simmons said T2 is financially strong, and continuing to experience strong growth in 2013. He said it is the "right time" for him to transition away from daily operations.

"The board is delighted that someone of Dave's caliber will lead T2 forward, and that Mike will continue as Chairman and focus on strategic business development and acquisitions," said Walker Simmons, T2 board member and Partner at Pamlico. Pamlico Capital is a private equity firm that made a 28 million dollar equity investment in T2 Systems in 2011.  "T2 is in excellent shape with significant momentum due in large part to Mike's insightful leadership. We have a clear strategy for T2's future growth and will continue to benefit from his extensive industry knowledge and relationships in his new role."

Started in 1994, T2 Systems is a technology-focused parking system provider with deep roots in the evolving parking industry. This commitment is evident in T2's quality products and services, thought leadership and strong customer relationships. With its proven, unified solutions, T2 Systems is trusted by close to 400 organizations in the US and Canada including universities, cities, towns, hospitals and parking operators. T2 Systems is headquartered in Indianapolis, Indiana and has virtual offices throughout the United States and Canada. For additional information about T2 Systems, Inc. products and services, visit www.T2systems.com.